TE Connectivity Ltd. (NYSE:TEL) EVP Sells $3,322,140.00 in Stock

TE Connectivity Ltd. (NYSE:TEL - Get Free Report) EVP John S. Jenkins sold 20,400 shares of TE Connectivity stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $162.85, for a total transaction of $3,322,140.00. Following the transaction, the executive vice president now owns 24,625 shares of the company's stock, valued at $4,010,181.25. This represents a 45.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

TE Connectivity Stock Performance

• This mid-cap tech stock just jumped 30%...and is still cheap

Shares of TEL stock opened at $161.08 on Thursday. The stock has a market capitalization of $47.77 billion, a P/E ratio of 25.73, a PEG ratio of 2.11 and a beta of 1.24. The company has a current ratio of 1.68, a quick ratio of 1.10 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average is $141.31 and its 200 day moving average is $146.47. TE Connectivity Ltd. has a 12 month low of $116.30 and a 12 month high of $163.39.

TE Connectivity (NYSE:TEL - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $2.10 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $0.14. The company had revenue of $4.14 billion for the quarter, compared to analysts' expectations of $3.97 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. TE Connectivity's revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.86 EPS. On average, sell-side analysts anticipate that TE Connectivity Ltd. will post 8.05 earnings per share for the current year.

TE Connectivity Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Wednesday, May 21st will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, May 21st. This is a positive change from TE Connectivity's previous quarterly dividend of $0.65. TE Connectivity's dividend payout ratio is 62.42%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEL. HSBC upgraded shares of TE Connectivity from a "hold" rating to a "buy" rating and set a $175.00 price objective for the company in a report on Thursday, April 24th. Hsbc Global Res upgraded shares of TE Connectivity from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of TE Connectivity from $146.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. The Goldman Sachs Group cut their price target on shares of TE Connectivity from $190.00 to $170.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Bank of America boosted their price target on shares of TE Connectivity from $167.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $159.50.

Read Our Latest Stock Report on TEL

Institutional Trading of TE Connectivity

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meyer Handelman Co. increased its holdings in TE Connectivity by 9.9% during the 4th quarter. Meyer Handelman Co. now owns 101,640 shares of the electronics maker's stock worth $14,531,000 after acquiring an additional 9,175 shares during the period. abrdn plc bought a new stake in TE Connectivity during the 4th quarter worth approximately $15,739,000. Truist Financial Corp increased its holdings in TE Connectivity by 32.8% during the 4th quarter. Truist Financial Corp now owns 129,461 shares of the electronics maker's stock worth $18,509,000 after acquiring an additional 31,991 shares during the period. Carnegie Investment Counsel increased its holdings in TE Connectivity by 4.3% during the 4th quarter. Carnegie Investment Counsel now owns 119,041 shares of the electronics maker's stock worth $17,019,000 after acquiring an additional 4,913 shares during the period. Finally, Merit Financial Group LLC bought a new stake in TE Connectivity during the 4th quarter worth approximately $237,000. Institutional investors own 91.43% of the company's stock.

About TE Connectivity

(Get Free Report)

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.

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